The IT based solutions in the facility management market are developed to streamline the support function with the primary objectives of the business. These solutions help the facility managers to track and manage the information from the support functions. These support functions primarily include admin, technical (other than core business process), and infrastructural processes. They provide a seamless integration across different functional levels, encouraging undisrupted flow of information in organization.

One of the primary reasons behind the adoption of IT based facility management solutions is the requirement for optimal utilization of resources and organizational assets. An organization can significantly reduce the operational costs if it utilizes its resources and assets optimally. As the operational costs decrease the profitability of the organization will increase. That is why these solutions and systems are gaining very high traction across several industries. These solutions help organizations bring transparency in operations and processes and hence improve upon decision making abilities.

Several players in the market of facility management are now offering bundles of integrated modules. The demands in the industry are also varying with the dynamic prospects of the business environment in the market. That is why customized offerings are preferred over standardized solutions. It also opens up the new possibilities in terms of development and innovation.

Various players such as IBM, Archibus, and Oracle among others are offering standalone and customized solutions and services. These solutions vary as per the demand and typically include asset management, space management, lease administration, real estate portfolio management, and maintenance management. In terms of services, these vendors provide support as design and integration, deployment, data migration, consultancy and managed services.

As the infrastructure in the market of facility management is developing at very high growth rate, new facilities are also developing quickly. Major industry verticals with such high infrastructural growth are public sector, manufacturing, real estate and retail among others. The adoption in these verticals is very high as they are looking to integrate data from operational facilities to other business applications.

In terms of regions, North America, and Europe are the major revenue contributor in the market of facility management. Earlier, the traction was high in these regions, which was hampered because of the economic slowdown in mid 2000sí but now the market is growing at a steady pace again. Other regions such as Asia-Pacific and MEA both have enormous opportunities in this market. As the economies in these two regions are either developed or developing, except some of African countries, new ventures will be observed in near future. Latin American market is also growing at high rate but its contribution to the global market will be least as compared to other regions.

This research report segments and categorizes the global facility management market on the basis of the following segments:

The solution offered by the facility management market are set of IT tools such as databases, visual display tools, and geographic data/information providing tools. For any organization, support functions are as important as its core business operation. Earlier, organizations did not concentrate on these support functions such as administration, technical issues, infrastructure, property, and the people. At that time, it was believed that focusing on core business purposes would be the key to success. As time passed, organizations felt that tracking and managing this support functions and activities would significantly impact the organizational efficiency in terms of profit and resource optimization. To address this issue, several ad-hoc solutions were implemented by organizations. These ad-hoc solutions were the first generation of facility management solutions.

In the absence of proper information management solutions, the scope for early generations of facility management solutions was confined at departmental or functional levels. The prime reason behind this confinement was the inability to reach data outside a function or department. At that time, these solutions were used to track and monitor the information within a department only. Later with the technological advancements in the information management solutions, sharing of information across departments or functional levels became possible. It brought significant change in the solutions as well. Now the facility management solutions received more traction as it can track and monitor information across different levels.

The present generations of facility management solutions offer a wide range of features like space management, project management, asset management, real estate portfolio management, maintenance management, and environment and sustainability management. Most of the solutions are available in standalone offerings but demand for customized solutions is high as they address organization specific requirements.

This report focuses on the drivers, restrain, opportunities, and the competitive landscape for the facility management market. There are several players in this market and most of the IT solution vendors are present there with a wide range of offerings in portfolio. IBM, Manhattan software, Archibus, GE, SAP, and ESRI are some of the key industry players. Vendors in this market offer solutions and services such as integration, maintenance, consultancy, and deployment, keeping the clients' requirements in mind.

As per the study from MarketsandMarkets on this market, advancements in the database technologies and higher ROI among others will drive the growth of this market. Earlier, traction was observed in manufacturing industries but now service industries are also having high adoption rate. Public sector would be one of the major sectors where the deployment of these solutions is very high. This report focuses on the global market across different verticals, and geographic regions. Key segments included in the report are divided on the basis of the solutions, services, verticals, and regions. This report also emphasizes on upcoming trends, drivers, restraints, and opportunities in the market.

MarketsandMarkets expects that the facility management market will gain high traction across the globe. MarketsandMarkets forecasts it to grow from $24.65 billion in 2014 to $43.69 billion by 2019, at a CAGR of 12.1% during the forecast period.

Facility Management: Market Size, 2014-2019 ($Million)

Source: MarketsandMarkets Analysis

The table and diagram given below highlight the Y-o-Y growth trend for the market.

Facility Management: Market Growth, 2015-2019 (Y-O-Y %)

Source: MarketsandMarkets Analysis

Facility Management: Market Growth, 2015-2019 (Y-O-Y %)

Source: MarketsandMarkets Analysis

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